FEC fines Cruz campaign $35k for not disclosing 2012 loans

WASHINGTON (AP) - The Federal Election Commission is fining Texas Sen. Ted Cruz $35,000 for failing to disclose that he received loans to help finance his 2012 Senate run.

Cruz said at the time that his family liquidated their net worth to loan $1.43 million to his campaign. But the FEC later found that $1.06 million of that was from loans granted by Citibank and Goldman Sachs, where his wife worked.

Cruz's campaign did not immediately respond to a request for comment Friday.

The federal agency has not announced the fine publicly. But the nonpartisan Campaign Legal Center, which filed a complaint in 2016 that led to the fine, released documents revealing it.

The loans' existence was first reported in 2016 by The New York Times.

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